Gee, what a shock. The trustees of the Social Security and Medicare programs recently commented that the financial conditions of both programs has deteriorated. Well, duh. Why do you think the Bush administration tried to reform the program? In 20 years when the system is completely insolvent, just remember that it was the Democratic party who laughed at the idea that Social Security and Medicare were going bankrupt.
Social Security and Medicare trustees say the financial condition of the government’s two biggest benefit programs deteriorated slightly over the past year.That assessment on Monday prompted Democrats and Republicans to hurl familiar charges at each other in a repeat of last year’s pitched battle over what to do about Social Security.
Democrats accused the Bush administration of overstating the problems in the two programs as a way of getting Congress to enact draconian benefit cuts, while Republicans said Democrats were refusing to face serious funding shortfalls.
Given the tough talk on both sides, there was little likelihood that Congress will make significant changes in either program before the November elections. Some analysts said they don’t expect major changes before the election of President Bush‘s successor.
The annual trustees’ report moved up the date that the Social Security trust fund will be depleted by one year to 2040 and moved up the date that the Medicare hospital insurance trust fund will be depleted by two years to 2018.
The problems in Medicare were depicted as far more serious because of the skyrocketing costs of health care, but the trustees presented a somber assessment of both programs facing the looming retirement of 78 million baby boomers.
The trustees, who include the head of the Social Security Administration and three members of the Cabinet, said long-term growth rates for both programs were not “sustainable under current financing arrangements.”
Hell, if you don’t want to believe the GOP, how about at least believing the people who are actually running these programs?
